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Vodafone Idea Ltd
(IDEA)
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Rating:47Neutral
Price Target:
₹14.00
▲(6.63% Upside)
Action:Reiterated
Date:05/18/26
The score is held down primarily by severe balance-sheet stress (negative equity and heavy leverage) and weak/volatile profitability despite a recent return to positive net income. Technicals are strong with the price above major moving averages, but overbought readings raise pullback risk. Valuation is also constrained by a negative P/E and no dividend yield data.
Positive Factors
Improving Cash Generation
Operating cash flow and free cash flow materially improved in 2026, showing the company can generate operating liquidity. If sustained, this durable cash-generation lift can fund network upkeep, reduce reliance on external funding, and provide runway to chip away at leverage over the medium term.
Negative Factors
Highly Stressed Balance Sheet
Negative equity and debt that rivals or exceeds the asset base materially constrain financial flexibility. This elevated solvency and refinancing risk limits the company's ability to invest, pursue strategic initiatives, or absorb shocks without restructuring or external capital over the coming months.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving Cash Generation
Operating cash flow and free cash flow materially improved in 2026, showing the company can generate operating liquidity. If sustained, this durable cash-generation lift can fund network upkeep, reduce reliance on external funding, and provide runway to chip away at leverage over the medium term.
Read all positive factors
Vodafone Idea Ltd (IDEA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.39T
Dividend YieldN/A
Average Volume (3M)84.53M
Price to Earnings (P/E)5.8
Beta (1Y)1.27
Revenue Growth2.99%
EPS GrowthN/A
CountryIN
Employees9,670
SectorGeneral
Sector StrengthN/A
IndustryTelecommunications Services
Share Statistics
EPS (TTM)2.25
Shares Outstanding108,343,030,000
10 Day Avg. Volume77,103,532
30 Day Avg. Volume84,531,396
Financial Highlights & Ratios
PEG Ratio-0.01
Price to Book (P/B)-2.57
Price to Sales (P/S)2.05
P/FCF Ratio14.19
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-1.69
Revenue Forecast (FY)₹497.62B
Vodafone Idea Ltd Business Overview & Revenue Model
Company Description
Vodafone Idea Limited, an Indian telecommunications firm, delivers a wide array of mobile connectivity solutions across the nation. Its offerings span voice and data services, supported by 2G, 3G, and 4G technologies, along with broadband access. ...
How the Company Makes Money
Vodafone Idea primarily generates revenue by selling wireless telecom services to customers on prepaid and postpaid plans. Its core revenue stream is service revenue (often reported in the industry as ARPU-driven), comprising: (1) Mobile data: cha...
Vodafone Idea Ltd Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
12
Very Negative
Cash Flow
52
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 448.73B | 434.56B | 425.73B | 421.43B | 384.98B |
| Gross Profit | -20.66B | 190.86B | 182.55B | 183.19B | 175.76B |
| EBITDA | 781.51B | 115.99B | 105.53B | 102.27B | 93.12B |
| Net Income | 345.52B | -273.83B | -312.38B | -293.01B | -282.45B |
Balance Sheet | |||||
| Total Assets | 1.92T | 1.98T | 1.85T | 2.07T | 1.94T |
| Cash, Cash Equivalents and Short-Term Investments | 58.38B | 63.10B | 1.68B | 8.95B | 14.59B |
| Total Debt | 1.93T | 2.33T | 2.44T | 2.38T | 2.14T |
| Total Liabilities | 2.27T | 2.68T | 2.89T | 2.82T | 2.56T |
| Stockholders Equity | -357.58B | -703.20B | -1.04T | -743.59B | -619.65B |
Cash Flow | |||||
| Free Cash Flow | 64.72B | -23.52B | 192.12B | 132.47B | 112.75B |
| Operating Cash Flow | 174.51B | 76.53B | 208.26B | 188.69B | 173.87B |
| Investing Cash Flow | -69.24B | -167.01B | -19.07B | -54.14B | -57.30B |
| Financing Cash Flow | -86.78B | 91.37B | -189.80B | -146.79B | -105.54B |
Vodafone Idea Ltd Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | ₹12.20T | 44.00 | ― | 1.26% | 21.96% | -20.52% | |
60 Neutral | ₹505.73B | 52.92 | ― | 1.39% | 8.12% | -33.60% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | ₹77.32B | 210.26 | ― | ― | -7.19% | ― | |
47 Neutral | ₹1.39T | 5.78 | ― | ― | 2.99% | ― | |
44 Neutral | ₹2.27B | -0.02 | ― | ― | -12.53% | -18.77% | |
43 Neutral | ₹17.00B | -0.55 | ― | ― | 17.98% | 6.63% |
* General Sector Average
IN:IDEA
Vodafone Idea Ltd
13.01
6.40
96.82%
IN:BHARTIARTL
Bharti Airtel Limited
1,971.15
109.48
5.88%
IN:MTNL
Mahanagar Telephone Nigam Limited
27.05
-18.65
-40.81%
IN:RCOM
Reliance Communications Limited
0.83
-0.56
-40.29%
IN:TATACOMM
Tata Communications Limited
1,757.00
105.28
6.37%
IN:TTML
Tata Teleservices (Maharashtra) Limited
39.94
-18.94
-32.17%
Vodafone Idea Ltd Corporate Events
Vodafone Idea Clears Massive Employee Stock Option Grant Under 2024 Scheme
Jul 13, 2026
Vodafone Idea Limited’s Nomination and Remuneration Committee has approved the grant of 13,89,72,376 stock options and performance stock units to eligible employees under its 2024 employee equity incentive scheme. The options are priced at R...
Vodafone Idea Allots 430 Crore Promoter Warrants in Capital-Raising Move
Jun 22, 2026
Vodafone Idea Limited has approved the allotment of 430 crore warrants on a preferential basis to Suryaja Investments Pte. Ltd., an Aditya Birla Group promoter entity, at an issue price of Rs 11 per warrant, with 25% of the consideration already r...
Vodafone Idea Promoters Report No New Share Encumbrances in FY 2026
Jun 10, 2026
Vodafone Idea Limited has disclosed that its promoter shareholders, including several Vodafone group investment entities, have not created any new encumbrances on their shares in the company during the financial year ended 31 March 2026. The only ...
Bombay High Court Quashes Rs. 2,113 Crore OTSC Demand Against Vodafone Idea
Jun 9, 2026
Vodafone Idea Limited has secured a favorable ruling from the Bombay High Court, which quashed demand notices issued by the Department of Telecommunications for one-time spectrum charges totaling Rs. 2,113 crore on the former Idea Cellular and Spi...
Vodafone Idea Files FY26 Annual Secretarial Compliance Report
May 26, 2026
Vodafone Idea Limited has filed its Annual Secretarial Compliance Report for the financial year ended 31 March 2026, in line with Regulation 24(A)(2) of the SEBI Listing Obligations and Disclosure Requirements. The report, prepared by an independe...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.